OREANDA-NEWS. February 05, 2015.  Chicago Board of Trade wheat futures fell Wednesday on technical selling coupled with a firmer dollar that makes US wheat less appealing to those holding other currencies, traders said.

Losses limited by signs of fresh global export demand. Saudi Arabia, Egypt, Iraq, Jordan, Bangladesh and South Korea have all purchased or tendered for wheat this week.

Also, funds hold a net short position in CBOT wheat, leaving the market open to bouts of short-covering.

Kansas City hard red winter and MGEX spring wheat posted larger losses, losing ground against CBOT wheat on intermarket spreads.

Statistics Canada reported Dec. 31 Canadian wheat stocks at 24.8 million tonnes, down 13.5 percent from a year earlier. The figure was the still the second-largest in 18 years, and fell in line with an average trade estimate of 25 million.

Russia may export between 20 million and 30 million tonnes of grain in 2015/16 marketing year, the Agriculture Ministry said, having narrowed its 2015 crop forecast.

A Libyan state grain buying agency made no purchase in an international tender for 50,000 tonnes of milling wheat because of payment problems due to political turmoil, European traders said.

Libya said it had started tapping into its strategic wheat reserves to ensure bread supplies and overcome what it called a "flour crisis."